From concept to consumer!

Just some key notes from the book “From concept to consumer”:

The invention is perhaps 5% of all the factors for success. Old model to develop product is Engineer –> Manufacture –> Market. But it is not suitable for the fast-changing business environment. The new model is Engineer — Manufacture — Market. The three phases can be executed parallel.

To get customer feedback early is important. But conventional marketing testing is less useful in the case products are results of a visionary leaders.

Less is more. The developer should focus to the core features of product. Additional features sometimes make products difficult to use and more cost to develop.

Excellent product is one so useful in function and clear in its operation that its users, within days or weeks, wonder how they ever got along without it.

A successful product design is one that meets the needs of its customers at a price they can afford.

Top ten rules when designing products:

1.Success depends on so much more than just having aa great product. Build it and they will come rarely works (not really understand this).

2.Manage your development using a small, focused, cros-functioned team with a strong product manager, and with authority to make decision quickly (ideally 5 to 10).

3.Be creative in the development process as you are with the invention it self.

4.Don’t obsess over developing the perfect product. Being early to market is often more important.

5.Market tests your product using simple, common sense approaches such as talking to and watching how potential customers work. Go with your gut, but do some sanity checks along the way.

6.Do what you do best and lest other companies do what they do best (and monitor the progress and results of subsidiaries thoroughly – my opinion ) . Don’t reinvent what has already been done.

7.Think like your competitors. Plan your next product while doing the first. Then offer the best competitive response to your own product.

8.Understand the sales and distribution channels, you’ll be using and make sure your product costs allow for a competitive selling price.

9.Monitor sell thoroughly and manage your supply chain closely. Advoid building huge inventories of parts or products before you know how well your product will sell. It’s better to be out of stock than over stock.

10.Don’t believe your own hype.

Ph

Advertisement